Oaktree Capital to Exit Taiwan’s Fusheng Group

HONG KONG—Oaktree Capital Group LLC is exiting its flagship Asian private-equity investment, Fusheng Group, according to people familiar with the situation, in a deal that could value the business at about $1 billion.

Oaktree’s sale comes as the $93 billion investment firm focuses more on distressed investing opportunities in Asia and puts less focus on seeking control-oriented, private equity-type investment in the region.